ICAI conducts India Copper Forum in Mumbai

International Copper Association India (ICA India) in association with Hindalco Industries Ltd and Vedanta Ltd organised the prestigious India Copper Forum earlier today in Mumbai.

The event held extensive discussions to evaluate how the copper fraternity is aligning itself to the Government’s vision and contributing to the nation’s progress. Going forward, the estimated copper usage growth is expected to increase as the Government has put in process various initiatives such as Housing for All, Make in India and smart cities to name few.

Speaking on the opportunities and challenges faced by the copper industry, JC Laddha, CEO, Hindalco Copper Division said, “We see tremendous growth potential for copper in India. This will come from sectors like power, telecom, automobile, railway, defence etc. We are expecting the copper usage to double in India by next decade. However, copper industry needs great support from the government as it is going through a difficult phase due to slow down in global market and increase of imports. Imports increased from 64,000 tonnes in FY2011 to 206,000 tonnes in FY2016, showing a CAGR of 22% over the last 5 years. Also, higher logistics cost, processing & energy cost etc. has built up the cost pressure.”

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